In the past one and a half months, the cryptocurrency market has faced significant turmoil. Bitcoin (BTC), the most prominent cryptocurrency globally, had surged to an unprecedented high of $73,750 on March 14. However, the broader market downturn that began in early August led to a substantial drop in cryptocurrency values. Consequently, Bitcoin’s price plummeted to below $55,000. Currently, Bitcoin is trading around $57,940, which is a 21.4% decrease from its all-time high.

Despite these setbacks, investors are encouraged to adopt a long-term perspective. The Federal Reserve (Fed) is nearing the end of its higher interest rate regime. A lower interest rate environment typically benefits high-growth sectors such as technology, consumer discretionary, and cryptocurrencies.

From our viewpoint, investors should consider accumulating Bitcoin using a buy-on-the-dip strategy. Every dip in Bitcoin’s price presents a valuable buying opportunity, potentially leading to significant gains once the Fed’s tighter monetary policy concludes.

A series of weak economic indicators for July and August, particularly labor market data, have influenced current market sentiment. The CME FedWatch tool indicates a 100% probability of a 25-basis point interest rate cut in September.

Looking ahead to November, market participants estimate a 100% probability that the total rate cut for the year will be 50 basis points and a 94.4% probability that it will reach 75 basis points. For December, there is a 100% probability that the total rate cut will be 75 basis points and a 79.7% probability of a 1% cut by 2024.

Robinhood Markets operates a financial services platform within the United States, enabling users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies through its Robinhood Crypto platform. Robinhood facilitates transactions in Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies and holds a Zacks Rank #2 (Buy).

Solid Price Appreciation Potential for HOOD Stock:
Currently, brokerage firms project a short-term average price target for Robinhood stock that represents a 15.9% increase from its last closing price of $20.64. The price target range is between $9.5 and $32.

Coinbase Global Inc.:
Coinbase provides financial infrastructure and technology for the crypto economy both in the United States and internationally. COIN offers primary financial accounts in the crypto space for consumers, a marketplace with liquidity pools for institutional crypto transactions, and technology services that enable developers to build crypto-based applications and securely accept crypto assets as payment. Coinbase Global holds a Zacks Rank #3 (Hold).

Astonishing Price Appreciation Potential for COIN Stock:
At present, brokerage firms estimate a short-term average price target for Coinbase stock representing a 56.9% increase from its last closing price of $157.15. The price target range lies between $160 and $345.

NVIDIA Corp.:
NVIDIA is a leading semiconductor company renowned for designing graphics processing units (GPUs). As one of the major success stories of 2023 and 2024, NVIDIA stock often thrives in a booming crypto market due to GPUs’ crucial role in data centers, artificial intelligence, and cryptocurrency creation. NVIDIA carries a Zacks Rank #3.

Attractive Price Appreciation Potential for NVDA Shares:
Currently, brokerage firms predict a short-term average price target for NVIDIA stock representing a 38.1% rise from its last closing price of $116.91. The price target range is between $90 and $200.

Interactive Brokers Group Inc.:
Interactive Brokers Group is a global automated electronic broker that executes and processes cryptocurrency trades. IBKR’s commodities futures trading desk also offers customers the chance to trade cryptocurrency futures. Interactive Brokers holds a Zacks Rank #3.

Strong Price Appreciation Potential for IBKR Shares:
Brokerage firms currently forecast a short-term average price target for Interactive Brokers stock representing a 13.4% increase from its last closing price of $122.77. The price target range is between $100 and $180.

Block Inc.:
Block operates an online digital and mobile payment platform for consumers and merchants and is the parent company of Square and Cash App. Through Cash App, users can buy, sell, send, and receive Bitcoin. Additionally, Block’s decentralized tbd platform allows developers to create decentralized finance applications on programmable blockchains. Block is also one of the largest Bitcoin investors and holds a Zacks Rank #3.

Impressive Price Appreciation Potential for SQ Stock:
Currently, brokerage firms project a short-term average price target for Block stock representing a 41.2% surge from its last closing price of $63.38. The price target range lies between $40 and $100.

The chart below highlights the price performance of these five Bitcoin-centric stocks over the past three months.

A substantial initiative to rebuild the deteriorating U.S. infrastructure is imminent. This effort is bipartisan, urgent, and inevitable, with trillions expected to be spent, leading to significant financial opportunities.

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Interactive Brokers Group Inc. (IBKR): Free Stock Analysis Report

NVIDIA Corporation (NVDA): Free Stock Analysis Report

Block Inc. (SQ): Free Stock Analysis Report

Coinbase Global Inc. (COIN): Free Stock Analysis Report

Robinhood Markets Inc. (HOOD): Free Stock Analysis Report

The views expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.